Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,589,957,983 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

variable-rate demand obligation

    0.01 sec.
variable-rate demand obligation
A floating-rate debt obligation that has a nominal long-term maturity as well as an option allowing the investor to put (sell) the obligation back to the trustee, generally at par plus accrued interest.
How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
This guidance applies to auction rate securities, as well as variable-rate demand obligation bonds or any other variable-rate debt instruments.
Auction rate securities: a primer for finance officers by Skarr, Douglas / Government Finance Review
As discussed in 'Rating Guidelines for Variable-Rate Demand Obligations Issued with External Liquidity Support', dated May 29, 2009, a short-term rating based on a bank liquidity facility may not be higher than the short-term rating related to the long-term bond rating of the debt issue, since the likelihood of termination of the liquidity provider's obligation to fund purchase price for tendered bonds increases as the issuer's ability to meet its debt obligations decreases.
Fitch Upgrades California's Economic Recovery VRDBs Series 2004C-1 ... by Business Wire
Increased cost of liquidity facilities, the scarcity of highly rated liquidity providers and the accelerated amortization of variable-rate demand obligations held as 'Bank Bonds' contributed to the negative pressure on SHFAs (the aforementioned report is available at 'www.
Fitch Views State HFA Temporary Credit and Liquidity Program as ... by Business Wire
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.